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Web hosting provider Rackspace announces IPO terms

July 25, 2008
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Rackspace, a leading hosting company which supports websites, web-based IT systems and computing, announced terms for its upcoming IPO in a filing with the SEC on Friday. The company plans to offer 15 million shares at a range of $12-$16. Goldman Sachs, Credit Suisse and Merrill Lynch are the lead underwriters on the deal, which is expected to price during the week of August 4.